Banque Transatlantique SA Purchases New Stake in Incyte Corporation $INCY

Banque Transatlantique SA acquired a new position in shares of Incyte Corporation (NASDAQ:INCY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,968 shares of the biopharmaceutical company’s stock, valued at approximately $689,000.

Several other large investors also recently made changes to their positions in INCY. Elyxium Wealth LLC acquired a new position in shares of Incyte during the 4th quarter valued at $28,000. Smithfield Trust Co raised its position in Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares during the period. MUFG Securities EMEA plc purchased a new position in Incyte in the second quarter valued at about $32,000. CYBER HORNET ETFs LLC acquired a new position in shares of Incyte during the second quarter worth about $33,000. Finally, Leonteq Securities AG acquired a new position in shares of Incyte during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Activity

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the sale, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. This represents a 6.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Sanford C. Bernstein started coverage on Incyte in a research note on Thursday, May 21st. They issued a “market perform” rating and a $99.00 target price for the company. Oppenheimer reissued a “market perform” rating and set a $107.00 price target on shares of Incyte in a research report on Monday, June 8th. UBS Group decreased their price target on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Weiss Ratings raised shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Finally, BMO Capital Markets reiterated an “underperform” rating on shares of Incyte in a research note on Monday. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $105.10.

Incyte Trading Down 0.8%

INCY opened at $98.22 on Friday. The stock has a market capitalization of $19.62 billion, a PE ratio of 13.87, a P/E/G ratio of 0.96 and a beta of 0.79. The firm’s fifty day moving average price is $98.15 and its 200 day moving average price is $98.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. Incyte Corporation has a 12-month low of $66.74 and a 12-month high of $112.29.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. As a group, research analysts expect that Incyte Corporation will post 6.64 EPS for the current fiscal year.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.